5 Ways to Boost a 401(k)
Since the advent of defined contribution plans 30 years ago, the responsibility of saving for retirement has fallen largely on employees’ shoulders. Many employers are freezing or terminating costly pension plans in favor of 401(k)s and similar plans, according to a Prudential Financial Inc. survey. If you’re looking to catch up or get ahead on saving for retirement, there are steps you can take to do that, including the five that...
Saving Money When You’re Young? You Can Start Small
When you’re young and juggling lots of financial responsibilities, from repaying student loans to saving up for a down payment on a home, you may have only a few dollars left over each month to put away for retirement. The problem is, you generally need a lot more than just pocket change to invest in the mutual funds that will help grow your savings. Today, the average minimum investment for a U.S. stock fund — a core holding in any...
Some Funds Offer Stability, But at a Price
New York — Freaked out by the stock market’s big swings? Then the investment industry has something it built just for you: funds that hope to offer a steadier ride. That sounds especially comforting after this year’s jarring start for markets, in which drops of more than 1 percent have become typical. But be careful, the funds carry their own risks. These mutual funds and exchange-traded funds own stocks that could charitably be...
How to Save Yourself When Market Turns Cruel
The stock market has turned cruel, probably leaving you with losses in your 401(k), IRA and college savings. What should you do? If you want to know how far this downturn will go, be skeptical of any answer you receive. When a downturn is in motion, top analysts cannot determine whether it’s going to be a 10 to 19 percent decline, known as a “correction,” or a scary “bear market,” which inflicts losses of 20 percent or more over...
